Biohaven (NYSE:BHVN) Posts Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Biohaven (NYSE:BHVN) issued its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15), Zacks reports.

Biohaven Price Performance

BHVN traded down $0.23 on Friday, reaching $15.89. 844,744 shares of the company’s stock were exchanged, compared to its average volume of 2,646,326. Biohaven has a twelve month low of $7.48 and a twelve month high of $18.57. The stock has a market cap of $2.40 billion, a PE ratio of -3.42 and a beta of 1.26. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The stock’s fifty day moving average price is $14.79 and its 200-day moving average price is $11.86.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Biohaven by 49.4% during the 1st quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock worth $2,761,000 after purchasing an additional 37,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Biohaven by 32.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock valued at $1,747,000 after purchasing an additional 17,562 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Biohaven by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock valued at $14,174,000 after purchasing an additional 41,040 shares during the last quarter. Intech Investment Management LLC lifted its position in Biohaven by 80.3% during the first quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock worth $1,481,000 after buying an additional 27,433 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in Biohaven by 1,097.8% during the second quarter. Quantbot Technologies LP now owns 8,840 shares of the company’s stock worth $125,000 after buying an additional 8,102 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of Biohaven in a report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $30.00 price target on shares of Biohaven in a report on Wednesday. Morgan Stanley raised their price target on Biohaven from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.94.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.